RPM International Inc. $RPM Holdings Trimmed by New York State Teachers Retirement System

Key Points

• New York State Teachers Retirement System reduced its holdings in RPM International by 8.4% in Q2, now owning approximately $14.8 million worth of stock.
• RPM International recently announced an increase in its quarterly dividend to $0.54 per share, with a yield of 1.9%.
• Analysts have varied ratings on RPM International, with a current average rating of Moderate Buy and an average price target of $130.70.

New York State Teachers Retirement System lowered its holdings in RPM International Inc. (NYSE:RPM - Free Report) by 8.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 134,879 shares of the specialty chemicals company's stock after selling 12,397 shares during the period. New York State Teachers Retirement System owned approximately 0.11% of RPM International worth $14,815,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. GW&K Investment Management LLC raised its position in RPM International by 0.3% during the first quarter. GW&K Investment Management LLC now owns 608,318 shares of the specialty chemicals company's stock valued at $70,370,000 after buying an additional 2,048 shares during the period. Boston Trust Walden Corp increased its holdings in shares of RPM International by 18.1% in the 2nd quarter. Boston Trust Walden Corp now owns 601,564 shares of the specialty chemicals company's stock valued at $66,076,000 after purchasing an additional 92,358 shares during the period. Ameriprise Financial Inc. lifted its position in shares of RPM International by 10.8% in the first quarter. Ameriprise Financial Inc. now owns 338,370 shares of the specialty chemicals company's stock worth $39,143,000 after purchasing an additional 33,016 shares in the last quarter. Baird Financial Group Inc. boosted its holdings in shares of RPM International by 6.3% during the first quarter. Baird Financial Group Inc. now owns 278,384 shares of the specialty chemicals company's stock worth $32,204,000 after purchasing an additional 16,549 shares during the period. Finally, Fairway Wealth LLC grew its position in RPM International by 50,413.3% during the first quarter. Fairway Wealth LLC now owns 220,743 shares of the specialty chemicals company's stock valued at $25,536,000 after purchasing an additional 220,306 shares in the last quarter. Institutional investors and hedge funds own 80.95% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on RPM. Morgan Stanley increased their target price on shares of RPM International from $113.00 to $124.00 and gave the stock an "equal weight" rating in a research report on Monday, July 28th. Weiss Ratings reiterated a "buy (b-)" rating on shares of RPM International in a report on Wednesday, October 8th. UBS Group boosted their target price on RPM International from $126.00 to $127.00 and gave the company a "neutral" rating in a research note on Wednesday, September 24th. Mizuho raised their price target on RPM International from $126.00 to $140.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Finally, Royal Bank Of Canada reduced their price target on RPM International from $125.00 to $121.00 and set a "sector perform" rating for the company in a report on Monday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, RPM International currently has an average rating of "Moderate Buy" and an average price target of $130.70.

RPM International Stock Performance

Shares of NYSE RPM opened at $111.90 on Friday. The business's 50-day simple moving average is $120.96 and its 200-day simple moving average is $114.62. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.51 and a current ratio of 2.26. RPM International Inc. has a 52 week low of $95.28 and a 52 week high of $141.79. The firm has a market cap of $14.35 billion, a price-to-earnings ratio of 20.92, a P/E/G ratio of 2.04 and a beta of 1.03.

RPM International (NYSE:RPM - Get Free Report) last posted its earnings results on Wednesday, October 1st. The specialty chemicals company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.87 by $0.01. RPM International had a return on equity of 24.22% and a net margin of 9.16%.The firm had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.05 billion. During the same period in the previous year, the company earned $1.84 EPS. The company's revenue for the quarter was up 7.4% on a year-over-year basis. As a group, equities research analysts expect that RPM International Inc. will post 5.5 earnings per share for the current fiscal year.

RPM International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 20th will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Monday, October 20th. This represents a $2.16 dividend on an annualized basis and a yield of 1.9%. This is a positive change from RPM International's previous quarterly dividend of $0.51. RPM International's dividend payout ratio (DPR) is presently 38.13%.

Insider Transactions at RPM International

In other RPM International news, Director Frederick R. Nance sold 1,000 shares of the company's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $119.36, for a total transaction of $119,360.00. Following the completion of the sale, the director directly owned 7,394 shares in the company, valued at $882,547.84. This represents a 11.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is owned by company insiders.

RPM International Profile

RPM International Inc manufactures and sells specialty chemicals for the industrial, specialty, and consumer markets worldwide. It offers waterproofing, coating, and traditional roofing systems; sealants, air barriers, tapes, and foams; residential home weatherization systems; roofing and building maintenance services; sealing and bonding, subfloor preparation, flooring, and glazing solutions; resin flooring systems, polyurethane, MMA waterproof, epoxy floor paint and coatings, concrete repair, and protection products; fire stopping and intumescent steel coating, and manufacturing industry solutions; rolled asphalt roofing materials and chemical admixtures; concrete and masonry admixtures, concrete fibers, curing and sealing compounds, structural grouts and mortars, epoxy adhesives, injection resins, polyurethane foams, floor hardeners and toppings, joint fillers, industrial and architectural coatings, decorative color/stains/stamps, and restoration materials; insulated building cladding materials; and concrete form wall systems.

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